As companies learn to deal with the continued restrictions, more and more companies struggle with how to keep the doors open. That translates into how to keep folks employed which eventually trickles down to how homeowners are able to keep up with their mortgages. Everyone is being affected.
Lenders and AMCs have faced challenges this past year and are doing a remarkable job keeping pace with the market. However, from time to time it’s prudent to stop and reflect on what’s going on. Everyone has kept their head down and plowed through the onslaught of business, but it’s more important than ever to stay focused on leading market indicators. Now is the time to dot your I’s and cross your T’s, especially where compliance is concerned. For that reason, the Collateral Risk Network (CRN) is hosting a Compliance Event on November 16th from 11:00 am to 3:15 pm ET. The CRN has a mission to instill confidence in the housing market by creating an environment that promotes safe and sound collateral risk practices, policies, and procedures under all economic conditions through education and collaboration. In keeping with that mission, they have assembled key industry stakeholders who can elaborate on compliance under a number of interesting headings including:
- Market Conditions – Ernie Durbin, Chief Technology Officer, Clarocity. Ernie has been dealing with the swings in market conditions for over 35 years. Ernie has his finger on the pulse of the market daily.
- Legal and Regulatory Update – Peter Christensen, Attorney, Christensen Law Firm. Peter is taking a hard look at liability issues related to the current financial climate. He continually tracks what’s going on in the legal realm related to valuation.
- AVM Best Practices – Cliff Rossi, University of Maryland, Robert H. Smith School of Business; Michael Bradley, Freddie Mac; and Ryan Vaughn, Bank of America. These folks live and breathe collateral risk and will discuss the use of AVMs and best practices related to this product.
- Appraiser Selection Criteria – Robert Murphy, Collateral Advisors. Bob has long been an advocate of choosing a competent appraiser for the assignment. Bob will deliver details on best practices in the selection process.
- Disciplinary Actions – Kevin Hopkins, Nationwide Property & Appraisal Services. Kevin is a compliance expert with years of experience. He will provide guidance on how to access disciplinary actions state to state.
This meeting targets compliance managers, chief appraisers, general counsel, and vendor managers from lenders and AMCs. Vigilance in compliance ensures the necessary protection if and when there’s a look back. As we all know from the last crisis, the health and soundness of our housing finance system plays a critical role in market stability worldwide.
Have any comments or would you like to submit content of your own? Email firstname.lastname@example.org.